Refining
CB&I ships Viva Energy Modules from its Thailand fabrication facility
CB&I, a wholly owned unrestricted subsidiary of McDermott, has shipped three out of five process assembly unit (PAU) modules for Viva Energy Australia.
Sinopec, Aramco start building $10-B petchem complex in China's Fujian province
Sinopec Corp and Saudi Aramco have started constructing a $10-B refinery and petrochemical complex in southeast China's Fujian province, marking another big investment in the country's recent wave of petrochemicals expansions.
Russia's Ilsky refinery has asked for gov't help over high rates, modernization
Russia's Ilsky oil refinery has applied for government financial help mainly due to high interest rates and facility modernization, but added there was no risk of it shutting down and that it remained profitable.
China's oil refinery output falls from a year ago for a seventh month
China's refinery throughput in October fell 4.6% from last year, down from year earlier for a seventh month, as plant closures offset the ramp up of a newly started complex and demand from holiday travel.
European oil giants step back from renewables path
Almost five years ago, bp embarked on an ambitious attempt to transform itself from an oil company into a business focused on low-carbon power. The British company is now trying to return to its roots as a big oil and gas player with a growth story to match rivals, revive its share price and allay investor concerns over future profits.
Russian refineries cut oil runs due to losses, closures loom
At least three Russian refineries have had to halt processing or cut runs due to heavy losses amid export curbs, rising crude prices and high borrowing costs. The closures highlight the struggles of the Russian refining industry, which has been caught in the crosshairs of Ukrainian drone attacks, Western sanctions on Russia, which force refiners to sell fuel at a discount, as well as high interest rates.
Spain's Moeve swings to quarterly loss on weak refining margins
Spain's second-largest oil company, Moeve, formerly known as Cepsa, posted a third-quarter loss after a sharp decline in refining margins hit its energy business.
Asia naphtha supply expected to remain tight over next two years
Naphtha is expected to remain in short supply in Asia over the next couple of years as more crackers come online and as demand for blending the fuel with gasoline rises.
U.S. energy draws up a wish list for new Trump administration
With U.S. President-elect Donald Trump two months away from taking office and able to act on his campaign promises, energy executives are lining up to offer new proposals to the mix.
Technip Energies, Shell Catalysts & Technologies move towards an exclusive global alliance for carbon capture
Technip Energies and Shell Catalysts & Technologies have agreed to strengthen their relationship and will be moving towards global exclusivity for the delivery of amine-based post-combustion carbon capture based on Shell’s cutting-edge CANSOLV CO₂ capture system.
- U.S. oil, biofuel group recommends 5.25 Bgal in biomass diesel mandates 4/11
- Ukraine will add bioethanol to petrol from May, seeks first imports from EU 4/11
- UN shipping agency strikes deal on fuel emissions, CO2 fees 4/11
- S&P analysis: Global refined product demand growth likely to weaken, absolute decline cannot be ruled out 4/11
- U.S. targets China oil storage terminal in new Iran-related sanctions 4/11
- Russia's Novatek plans condensate processing complex in Murmansk 4/11
